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Re: Another disastrous yearDisastrous year, perhaps, but SQZ made me money last year on every drill program and they have more drill programs on the way. Plus, from the perspective of owning the stock going forward, all does not appear lost. If we take a look based on today's $92 million market cap. we have the following: Carry forward UK ring fence tax allowances available US$126 million, these are likely worth more under the new tax system, although the new tax system may be change in a favourable way in the future.
No Debt.
Cash balance of $21 million.
The Kambuna field which is currently producing at about 40 mmscfd gas and 3,000 bpd of condensates. Realizing $106 per barrel of condensates and estimated 8.2 mmboe remaining reserves. The Columbus field (I think the UK gov't will come to it's senses at some point). Future exploration prospects in UK/Ireland of Spaniards, Doyle, Boyne and Liffey and Indonesia has Kambuna North, Kutai and East Seruway
Likely 3 new UK offshore blocks under UK 26th licensing round
All things considered, I think there are a lot of companies with over $92 million market caps that are in a lot worse positions than SQZ, but just my thoughts on the topic. |
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Msg # | Subject | Author | Recs | Date Posted |
140 | Re: Another disastrous year | Crucible401 | 1 | 4/1/2011 12:43:53 AM |